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THE VENETIAN LAUNCHES NEW PLAYER REWARD PROGRAM: CLUB GRAZIE

#1

THE VENETIAN SAYS "THANK YOU" WITH NEW

PLAYER REWARD PROGRAM: CLUB GRAZIE

More points, more rewards - more reasons to play.

Las Vegas, Nevada (December 4, 2007) - On December 5, 2007, The Venetian
Resort-Hotel-Casino will say "thank you" to its casino patrons with the
launch of a redesigned and restructured player reward program, appropriately
entitled, Club Grazie. Featuring a new point-based structure that allows
players to earn points faster than ever before, Club Grazie will be accepted
at both The Venetian and The Palazzo (opening late December 2008). Club
Grazie provides members extraordinary benefits and rewards including cash
back, promo credits and Discover gift cards redeemable at select retail
outlets at The Venetian and The Palazzo. Casino patrons will delight in the
services and amenities available at two world class resorts with the ease
and usability of just one card and one program.

Club Grazie offers three levels of membership, Grazie, Gold and Platinum. A
player's membership level determines the rate at which points are earned and
the higher the level, the faster points are earned. For every 2,500 points
earned, players have their choice of $15 in slot credits, a $10 Discover
gift card, or $5 in cash back. Points and level of membership are valid for
one full calendar year.

"Club Grazie differentiates itself from other player reward programs
primarily by offering members a wider range of choices. While still offering
the traditional cash back and promo credits, our newest reward alternative,
Discover gift cards, allow guests to truly customize their experience while
at The Venetian or The Palazzo. The gift cards can be used towards suite
accommodations, spa services, show tickets, dining and shopping; the
opportunities are endless," stated Rom Hendler, vice president of strategic
marketing for The Venetian and The Palazzo.

In addition to earning points faster and exciting new reward options,
members of Club Grazie also receive additional benefits including:

. Cash Savings! Club Grazie members receive discounts to services and
amenities at The Venetian and The Palazzo including restaurants, theater
tickets, retail outlets within The Grand Canal Shoppes and spa services at
the world renowned Canyon Ranch SpaClub. Level of membership determines
discount rate.

. Grazie Gift Extravaganza! For each slot point earned, one Grazie
point is earned. At our annual year-end Grazie Gift Extravaganza, the Grazie
points our loyal players have collected throughout the year can be redeemed
for a vast selection of merchandise including electronics, handbags,
crystal, sports and games, fine jewelry, health & beauty products and much,
much more. Gift certificates are also available for redemption with
participating retailers located inside The Venetian and The Palazzo.

. Online accessibility! A new online component allows patrons to view
their slot and Grazie points, review upcoming promotions and sign up to
participate in casino invited events.

. Special events and promotions! Players receive endless
opportunities to participate in exciting promotions like Wheel Deal, First
Trip Rewards and even a bi-annual cruise for the top point earners in a set
period.

. Incentives for Gold Level Members: In addition to all of the above,
Gold level members receive access to the Gold Club Lounge, exclusive
invitations to casino events, express valet parking privileges, invited
guest check-in and discounts to select stores and retail outlets at The
Venetian and The Palazzo.

. Exclusive incentives for Platinum Level Members: In addition to all
of the above including the Gold level member rewards, Platinum level members
receive VIP check-in, priority reservations and a more exclusive list of
elite store discounts at The Venetian and The Palazzo.

For existing members, the transition to Club Grazie will be seamless.
Current members have until December 31, 2008, to redeem points for cash back
and maintain their level of membership. Member cards will continue to work
until they are exchanged for a Club Grazie card. Membership is absolutely
free to anyone 21 years of age or older with valid ID. For more information
on Club Grazie, please visit www.venetian.com or call (702) 414- 4286.

[Non-text portions of this message have been removed]

#2

The Palazzo (opening late December 2008).

You're a year off on this.

#3

For every 2,500 points
earned, players have their choice of $15 in slot credits, a $10 Discover
gift card, or $5 in cash back. Points and level of membership are valid for
one full calendar year.

That's a tough choice!

"Club Grazie differentiates itself from other player reward programs
primarily by offering members a wider range of choices.

This reminds me of how Coast Casinos bragged about how much better it
was to have a choice between cash or comps instead of getting cash and
comps.

For existing members, the transition to Club Grazie will be seamless.
Current members have until December 31, 2008, to redeem points for cash back
and maintain their level of membership.

I wonder if this is a year off, also. Does it mean the end of this
month?

#4

How much coin in is required to get a point?

···

----- Original Message -----
  From: Tom Robertson
  To: vpFREE@yahoogroups.com
  Sent: Tuesday, December 04, 2007 11:33 PM
  Subject: Re: [vpFREE] THE VENETIAN LAUNCHES NEW PLAYER REWARD PROGRAM: CLUB GRAZIE

  >For every 2,500 points
  >earned, players have their choice of $15 in slot credits, a $10 Discover
  >gift card, or $5 in cash back. Points and level of membership are valid for
  >one full calendar year.

  That's a tough choice!

  > "Club Grazie differentiates itself from other player reward programs
  >primarily by offering members a wider range of choices.

  This reminds me of how Coast Casinos bragged about how much better it
  was to have a choice between cash or comps instead of getting cash and
  comps.

  >For existing members, the transition to Club Grazie will be seamless.
  >Current members have until December 31, 2008, to redeem points for cash back
  >and maintain their level of membership.

  I wonder if this is a year off, also. Does it mean the end of this
  month?

[Non-text portions of this message have been removed]

#5

How much coin in is required to get a point?

And is $100,000 of play per year still necessary in order to maintain
Gold Club status? Does everyone's year start now or will the start of
everyone's "earning year" carry over from before?

#6

It used to be $50 VP Coin-In = 1 Point and non-elite level cash back
was at .2%. So, $20K coin-in gave you $40 cash back. The new formula
can't be the same, since 2500 points now gives you $5 cash back,
which is silly for $125000 coin in.

It appears the new formula is $1 coin in = 1 point. So $2500 coin in
= 2500 points x .2% = $5. But if this applies to SLOT play, then the
VP rate could be half of that, resulting in a 50% cut in cash back
for VP players. And either way it is an effective means for the
casino to get players to take their cash back in slot credits which
they will then hopefully lose. Frankly, I'm surprised they're even
offerring the option of cash back. It's on the verge of extinction.

···

--- In vpFREE@yahoogroups.com, "Moe Couture" <a-1insp@...> wrote:

How much coin in is required to get a point? >

  ----- Original Message -----
  From: Tom Robertson

For every 2,500 points earned, players have their choice of $15 in
slot credits, a $10 Discover gift card, or $5 in cash back.

#7

I just spoke with a supervisor. Don't bother calling for awhile as
the system is down with the conversion taking place as I type.

There are pros and cons to the new system. It will now take $3 coin-
in to earn one point.

Gold status is earned at 30,000 points or $90,000 coin in, down from
$100K in the prior system. However, the highest level, Platinum, is
now at 600,000 points, or $1,800,000 coin-in. That's a substantial
increase from the prior $1,250,000.

Cash back has substantially deteriorated. Assuming $50K played, you
would have earned $100 cash back under the old system at .2%. The
same anount of play now results in 16,667 points which equals $33.33
cash back. You do get the equivalent of the old cash back value by
instead taking slot credits.

The DISCOVER card option is only usable at Venetian outlets. Don't
confuse it with the Harrahs Simon VISA gift card which is acceptable
anywhere.

···

--- In vpFREE@yahoogroups.com, "Moe Couture" <a-1insp@> wrote:

How much coin in is required to get a point? >

   ----- Original Message -----
   From: Tom Robertson

For every 2,500 points earned, players have their choice of $15 in
slot credits, a $10 Discover gift card, or $5 in cash back.

#8

How much coin in is required to get a point?

  From: Tom Robertson
  To: vpFREE@yahoogroups.com
  Sent: Tuesday, December 04, 2007 11:33 PM
  Subject: Re: [vpFREE] THE VENETIAN LAUNCHES NEW PLAYER REWARD

PROGRAM: CLUB GRAZIE

  >For every 2,500 points
  >earned, players have their choice of $15 in slot credits, a $10

Discover

  >gift card, or $5 in cash back. Points and level of membership

are valid for

  >one full calendar year.

  That's a tough choice!

  > "Club Grazie differentiates itself from other player reward

programs

  >primarily by offering members a wider range of choices.

  This reminds me of how Coast Casinos bragged about how much

better it

  was to have a choice between cash or comps instead of getting

cash and

  comps.

  >For existing members, the transition to Club Grazie will be

seamless.

  >Current members have until December 31, 2008, to redeem points

for cash back

  >and maintain their level of membership.

  I wonder if this is a year off, also. Does it mean the end of this
  month?

Go to The Venetian website and click on Grazie Club. It appears to

be a different structure but points, CB, etc, accrue at the same rate.

···

--- In vpFREE@yahoogroups.com, "Moe Couture" <a-1insp@...> wrote:

  ----- Original Message -----
   
[Non-text portions of this message have been removed]

#9

Under the old system, the CB rate was .3% for gold card players. Under
the new system, it takes $2.50 to earn a point. To get $15 in slot
credits (2,500 points), it takes $6,250. This comes to .24% if my
figures are correct, not .3%.

Of course, the big question is what will the monthly mailers look like?

Hask

···

You do get the equivalent of the old cash back value by
instead taking slot credits.

#10

<<Under the old system, the CB rate was .3% for gold card players. Under
the new system, it takes $2.50 to earn a point. To get $15 in slot
credits (2,500 points), it takes $6,250. This comes to .24% if my
figures are correct, not .3%.>>

That's what I get. And for Platinum level ($2=1 point) I get .3%, a downgrade from the old .4%. That is taking it in slot credits rather than CB. Also there is a note on their Web site (venetian.com): "$20 increments in slots and $50 in VP must be cycled through the machine in order for points to be earned" That means you will want to be sure your daily VP total is divisible by 50 to get the maximum points you earned. Just another hoop to jump through. You would think they could have made a simpler system - this new one is kind of assbackwards.

But I'm fairly happy with the new structure in that I feared much worse cuts.

Someone go over my figures to be sure I haven't made a math error. For Platinum $2 = 1 point. Takes $5000 through to earn 2500 points which is worth $15 in credits (free play).

···

________________
Jean $�ott
The much-expanded new edition of my tax book,
including a new chapter on poker, is now available
to order at my Web site, http://queenofcomps.com/.

#11

Actually, since you'd reach Gold status after $90K in, and then you'd
get a point for every $2.50, it would then take $1,425,000 more to get
the other 570,000 points, making the total "only" $1,515,000 coin-in to
get Platinum, starting at 0. I suppose once you're Platinum and it's
$2/pt, you can maintain Platinum with a mere $1.2m per year, $50k less
than before.

···

> ----- Original Message -----
> From: Tom Robertson

Gold status is earned at 30,000 points or $90,000 coin in, down from
$100K in the prior system. However, the highest level, Platinum, is
now at 600,000 points, or $1,800,000 coin-in. That's a substantial
increase from the prior $1,250,000.

#12

npf15251 wrote:

There are pros and cons to the new system. It will now take $3 coin-
in to earn one point.

Gold status is earned at 30,000 points or $90,000 coin in, down from
$100K in the prior system. However, the highest level, Platinum, is
now at 600,000 points, or $1,800,000 coin-in. That's a substantial
increase from the prior $1,250,000.

Scot Krause had previously quoted the message from the Venetian about
its new club, which included:

Current members have until December 31, 2008, to ... maintain their level of membership.

Since, at Gold level, it takes $2.5 of play at video poker to earn a
point, I read this as meaning that it takes $75,000 of play at video
poker by current Gold members in 2008 to maintain Gold status.